STid Raises €20 Million for Expansion
European contactless identification solutions provider STid has raised €20 Million from investment firm Capital Croissance to drive international and technological expansion.
STid will use the funds to pursue its ambitious growth plan while maintaining its independence and accelerate its innovation in the field of secure access control, particularly internationally.
Vincent Dupart, STid CEO, said: "With the support of Capital Croissance, STid is accelerating its development and making investments that are in line with the actions taken over the past five years. We will intensify our international development, particularly in the USA, Canada, Europe, the Middle East, and in Asia, while improving the quality of our services in our historical markets.
"In addition, we will continue to invest in the development of trusted technologies that have built our success - certified and interoperable solutions such as Systems Security Certified Practitioner (SSCP)."
Turnover Doubled in 3 Years
STid is driven by strong growth dynamics, both in France and globally, thanks to a strong close relationship with its partners. The company has seen its turnover grow by 100% over the last 3 years, reaching €29 million in 2023.
In 2022 and 2023, STid made two strategic acquisitions - SpringCard and Unicacces - resulting in significant growth. STid also stands out for its Architect range, which is a bestseller and has won multiple awards, as well as for the user experience of its software platform STid Mobile ID, offering intuitive and centralized access management.
STid has updated its growth plan by integrating new perspectives following the group's expansion. It is strengthening its investments to guarantee the availability and support of its offer to its new network of partners.
This fundraising is part of an ambitious development logic. It will allow STid to accelerate its research and development investments to support its innovation policy, while strengthening the sales and support teams.
To achieve its objectives, this year STid plans to expand its teams by integrating 18 new employees in addition to deploying new training programs and initiatives dedicated to quality of life at work.
Alignment in Entrepreneurial Values
STid is a leading European provider of contactless identification solutions - Radio Frequency Identification, Bluetooth and Near Field Communication.
It has won the trust of the Capital Croissance investment fund, with a shared alignment in entrepreneurial values. This minority interest allows STid to maintain an independent strategy while upholding sustainable development. This partnership will allow the company to consolidate its leading position in Europe and pursue its market share gains internationally by relying on the expertise and network of Capital Croissance.
In addition to its commercial expansion, STid is developing a strategy with a strong societal and environmental impact. The enterprise has recently created a Corporate Social Responsibility Department and distinguishes itself through its initiatives in sustainable performance.
Dupart added: "Our objective is to develop our strategy and our societal and environmental impact by integrating these values into the heart of our solutions and our operations."
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